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Lelechka [254]
2 years ago
6

Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,

000. The journal entry to record the material purchase on account is
a. Materials 165,000 Accounts Payable 165,000
b. Materials 190,000 Accounts Payable 190,000
c. Materials 190,000 Cash 190,000
d. Accounts Payable 190,000 Materials 190,000
Business
1 answer:
Tanzania [10]2 years ago
8 0

Answer:

b. Materials 190,000 Accounts Payable 190,000

Explanation:

Materials may either be purchased on credit or by cash, When materials are purchased on credit, such materials are said to have been purchased on accounts.

The entries for cash purchases are ;

Debit Supplies/Inventory account

Credit Cash account

However, when the purchase is done on account, the credit entry goes to the accounts payable and not cash.

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Sometimes you will use Debit to increase an account (ie: Assets) and sometimes you will use Credits to increase an account (ie: Liabilities)
3 0
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A financial advisor has heard from a relative of nr industries inc.'s ceo that the company is planning to shut down its operatio
kolezko [41]

This would be a case of insider trading, meaning that the trader (the financial advisor) has information that is not public that will affect the future performance of the company. If the advisor acts on this early information and profits, then this could be considered illegal.

3 0
3 years ago
You just deposited $4,000 in cash into a checking account at the local bank. Assume that banks lend out all excess reserves and
ycow [4]

Answer: $20,000

Explanation:

The reserve requirement is a central bank regulation which sets minimum amount of reserves which must be held by a commercial bank.

When reserve requirement = 20%

= 20/100

= 0.20

Total increase in the checkable deposit will be = $4,000 / 0.20= $20,000

5 0
3 years ago
The formula Nequalspplus0.02p models the new​ population, N, of a town with current population p if the town is expecting popula
Llana [10]

Answer:

4284 persons

Explanation:

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where

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Putting the values above:

= 4200 persons × 2%

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So, the new population would be:

New population = Current population + Increase in population

= 4200 + 84 persons

= 4284 persons

Therefore, next year, there would be 4284 persons

5 0
3 years ago
Imagine that you sell popcorn at the local football stadium. knowing about diminishing marginal utility, how would you price you
Rudiy27

Answer: Charge a lower price after half-time

Explanation: Law of diminishing marginal utility holds that as the consumer consumes more and more units of a commodity, the incremental satisfaction derived from the successive units begins to fall after a certain point. Thus, as marginal utility begins to fall the persons willingness to pay shall also decline for the successive units. Therefore, the seller must sell the pop-corns at a lower price after half-time.

7 0
2 years ago
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